SeaOwl Acquires Thailand-based Ogas Solutions to Expand Business
SeaOwl Group announced Tuesday its acquistion of Thailand-based oil and gas solutions provider Ogas Solutions Group as part of its business growth to offer integrated services worldwide amid the consolidation of the industry.
The company revealed that Ogas Solutions, with a global workforce of more than 1,000 staff, was an attractive acquisition as it has a strong footprint in Asia. The region provided 50 percent of Ogas Solutions' revenue, mainly derived from Indonesia, Malaysia, Singapore and Thailand. Ogas Solutions is also well established in Africa, with subsidiaries complementary to those of SeaOwl.
Ogas Solutions' services offerings include manpower services -- contracting, technical services and recruitment; asset/project management; operations & maintenance/inspection & shutdown; engineering -- conceptual design/front end engineering and design (FEED)/detail design/yard engineering; and training -- HSE (health, safety and environment), oil & gas and marine.
The acquisition is expected to not only increases SeaOwl's market share within the field of oil and gas technical assistance, but also expands its expertise to new segments within the energy sector, and further strengthens SeaOwl’s ability to bring innovative services to customers and geographies.
Through the acquisition, SeaOwl would be able to cover key growth markets globally and extend its activities to all the critical expertise and core markets segments in the industry. The enlarged entity will operate in every oil and gas segment and will continue enhancing its integrated services offerings to clients, including global GMC (Global Maintenance Contract) offers, while preserving its proximity with customers.
"This new acquisition allows SeaOwl to pursue its strategy of consolidation in the field of technical assistance to companies. With this acquisition, our revenue will exceed $111.6 million (EUR 100 million) in 2016, making us now a global leader in our industry. I would like to thank our clients, teams and shareholders, who have been supporting this strategy and making our international growth possible," Arnoult Gauthier, president of SeaOwl, said in the press release.
According to Bernard Pailler, CEO of Ogas Solutions, the "operational center of Ogas Solutions will remain in Asia and our team will maintain a close relationship with our clients ... Thanks to the merger with SeaOwl, our clients will benefit from an integrated offer, extended teams and in-depth expertise, as well as a unique geographic coverage in the industry."
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